METLEN announced it has signed a non-binding agreement to enter the process of the acquisition of a 75% stake in the energy trading business of Most Energy JSC.
Renewable assets and BESS projects of Most Energy are not part of the acquisition.
Most Energy is an energy trading company, headquartered in Sofia, Bulgaria. It serves 897 industrial and commercial high-consuming customers (Β2Β), while it also acts as an Aggregator for 143 customers.
Through this acquisition, METLEN aims to obtain a reliable operational platform in Bulgaria, which will facilitate an expansion of the Company’s current customer base, while enhancing its physical presence in the country.
The agreement is part of METLEN’s wider strategic plan, which aims to the expansion of its high-consuming industrial and commercial customers (B2B) portfolio, as well as of the supply of energy in SE Europe. METLEN will offer its customers supply solutions with integrated risk mitigation tools, thus securing predictability, competitiveness and energy flexibility.
Furthermore, through Most Energy’s operation as an Aggregator, METLEN will strengthen its place in the region, as it will be managing third parties’ and proprietary RES units portfolios.
METLEN has a long and established presence in the energy sector of Southeast Europe. Through strategic partnerships and investment in innovative energy solutions, the Company has developed a wide portfolio of operations that includes trading and supply of natural gas and electricity, energy management, and the development of RES and energy storage projects.
The value of the transaction amounts to 6.8 million euros before working capital and other adjustments. The transaction completion is subject to due diligence, agreeing on the business plan, and the necessary approvals by the competent authorities.
